2016-05-12T19:16:22-07:00 2015-12-31 990 2015-01-01 941417215 DOW GREAT WESTERN CREDIT UNION DOWG 9253311010 4041 Lone Tree Way Suite 100 Antioch CA 94531 Phylliss Rosas CEO 9253311010 2016-05-12 2015 2016-09-27 15:27:22Z Phylliss A Rosas 4041 Lone Tree Way Suite 100 PO Box 2059 Antioch CA 94531 1369648 0 X www.dowcu.org X 1938 CA Provides Thrift Savings & Borrowing for member owned financial institution. The credit union provides one overall activity; that being a financial cooperative providing thrift savings, borrowing and other financial services to our members/owners. The number of members/owners at 12/31/15 was 2197 with 571 loans totaling $20,212,237 and with 4152 share deposit accounts totaling $37,288,461 9 9 7 14 4808 -4808 0 0 1115072 1011772 269723 357876 0 0 1384795 1369648 0 0 0 0 490880 465770 0 0 0 1039881 714712 1530761 1180482 -145966 189166 39184089 41722704 35079070 37428519 4105019 4294185 The credit union provide thrift savings, borrowing and financial services to members of a member owned cooperative financial institution. The credit union provides overall activity; that being financial cooperative providing thrift savings, borrowing and other financial services to our members/owners. Number of members/owners at 12/31/15 was 2197 with 571 loans totaling $20,212,237 and with 4152 share deposit accounts totaling $37,288,461. 0 0 1180482 1369648 Regarding members and the member deposit side of the balance sheet, members loss from 2282 to 2197. And member deposit accounts decreased from 4264 $34,966,172 to 4152 increased amount to $37,288,461. Dividend Interest paid on these accounts for the year was $68,021. Checking accounts increased from 1075 to 1092. Debit cards and transactions continued to grow, along with transactions on the credit union's atm. Depositing and check cashing services at the member services counter continued to grow. 869948 Loan services with 567 loans made for $4,221,315 as well as other services around loans, such as offerring mechanical breakdown insurance coverage on auto loans. And offerring insurance coverage for members if they are disabled and unable to make their payments. Various tpes of loans, including home loans were offerred, including 1st trust and 2nd trust deed and fixed and variable rate loans and home equity lines of credit. 0 0 0 1180482 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 939 0 1 7 1 1 1 0 0 0 0 0 X 9 9 0 0 0 0 1 1 0 1 1 0 0 0 1 1 1 0 1 1 1 0 X Dow Great Western Credit Union 9253311010 4041 Lone Tree Way Suite 100 Antioch CA 94531 John Jacobson Director 3 0 X 0 0 0 Curtis Tong Director 3 0 X 0 0 0 Karen Harvey Secretary 3 0 X 0 0 0 Steven McAdams Director 2 0 X 0 0 0 Art Solis Director 3 0 X 0 0 0 Marshall Zimmerman Director 2 0 X 0 0 0 Sally Siemak Director 2 0 X 0 0 0 Jeff Noyer Chairperson 4 0 X 0 0 0 David Parks Vice Chairperson 4 0 X 0 0 0 Phylliss Rosas CEO 50 X 108000 0 11311 108000 0 11311 1 0 0 0 FISERV 255 FISERV Drive Brookfield WI 53045 Information Systems 162414 Bluerock Partners LLC 1200 Concord Avenue Suite 200 Concord CA 94520 Leased Office Space 235202 2 0 Member Loan Interest 522100 869948 869948 0 0 141824 137016 4808 0 1011772 357876 357876 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1369648 1364840 4808 0 0 0 0 0 108000 0 255671 21770 48543 31786 0 0 0 0 0 0 42580 16591 62092 218454 0 281366 3262 0 7283 68022 0 30673 20241 Association Mermbership Dues 14989 Provision for Loan Losses -50841 1180482 0 0 0 383006 251764 21852 2165 0 0 0 0 20901324 19982147 47879 73719 1267054 757891 561270 509163 16792699 20422329 476059 481417 39184089 41722704 95480 91794 34983590 37336725 35079070 37428519 X 0 0 0 0 4105019 4294185 4105019 4294185 39184089 41722704 189166 X 0 1 X 1 0 0 0 0 0 0 0 0 0 853804 408803 445001 0 413250 349088 64162 0 0 0 0 509163 Credit Union And Bank Certificate Deposits 16983000 C Corporate Credit Union Deposits 931714 C Investment in Corporate Credit Unions 68479 C Investment to Pre-Fund Employee Benefits 2415020 C Investment in Credit Union Service Organization 24116 C 20422329 Federal Withholding Payable to IRS 7924 Other Withholding 1131 General Ledger Clearing Account 39208 member Share Deposits 37288462 37336725 X Schedule D, Part X, Line 2 FASB ASC 740-10-65, Income Taxes, provides guidance for how uncertain tax positions should be recognized, measure, disclosed and presented in the financial statements. This requires the evaluation of tax positions taken or expected to be taken in course of preparing the credit union's tax returns to determine whether the tax positions are "more-likely-than-not" of being sustained "when challenged or "when examined by the applicable tax authority. Tax positions not deemed to meet the more-likely-than-not threshold would be recorded as a tax expense and liability in the current year. For year ended June 30, 2015, management has determined that there are no material uncertain tax positions, and accordingly, has no recorded a liability for the payment of interest or penalties. State taxes, if applicable, are pain on income earned by the credit union in California. The credit union is subject to and pays all state and city taxes on goods and services purchased by the credit union. Form 990, Part VI, Section A, Line 6 -The credit union is a California Not-For-Profit Corporation that has member/owners that elect the governing body (Board of Directors) with each member having 1 vote. Form 990, Part VI, Section A, Line 7a - The credit union is a California Not-For-Profit Corporation that has member/owners that elect the governing body (Board of Directors) with each member having 1 vote. Form 990, Part VI, Section B, Line 11b - The form is prepared by the Accounting Manager and reviewed by the CEO. The credit union's regulator and auditor periodically reviewed it. Form 990, Part VI, Section B, Line 12c - The credit union has a conflict of Interest Policy and is audited by an outside audit firm and examined by a state regulator that review Board of Director's accounts for any improper activity. The Board of Directors are required to disclose any conflicts of interest at the monthly Board of Directors meetings. Also, the credit union has an appointed Supervisory Committee that performs various independent internal audit procedures. Form 990, Part VI, Section B, Line 15 - The Board of Directors has approved an Employee Handbook covering compensation policy and has approved a salary scale by employee position, including management. The Board of Directors has appointed a President/CEO salary review committee to review and make compensation recommendations to the Board of Directors. along with other employees salary review performed by the CEO. Form 990, Part VI, Section C, Line 19 - The credit union makes its Form 990 and any other documents required by regulation available upon request. Its most recent Financial Statements are posted monthly in the credit union. Other governing documents are made available on a case to case basis.